Montreal, Quebec, November 14, 2023 - Aya Gold & Silver Inc. (TSX: AYA, OTCQX: AYASF) (“Aya” or
the “Corporation”) is pleased to announce interim financial and operational results for the third quarter
ended September 30, 2023. All amounts are in US dollars unless otherwise stated.
Q3-2023 Highlights
Operational and Financial:
• Excellent operational performance:
• Silver production of 519,085 ounces (“oz”) in Q3-2023, a 15% increase from Q3-2022
• Recovery was 86.6% in Q3-2023, compared to 86.2% in Q3-2022
• 70,258 tonnes (“t”) of ore were processed in Q3-2023 compared to 69,697t in Q3-2022
• Revenue of $11.7 million in Q3-2023, a 63% increase from Q3-2022
• Cash cost of $10.73 per oz in Q3-2023 compared to $14.03 per oz in Q3-2022 (
¹
)
• Operating cash flow of $7.7 million in Q3-2023, a 35% increase compared to Q3-2022
• Robust financial position with $71 million of cash, cash equivalents and restricted cash (
²
)
compared to $42 million at December 31, 2022
• Ranked 14th on the 2023 TSX30 as a top-performing stock with a 3-year share appreciation of
498%
Exploration and Development:
• Conducted 4,675 meters (“m”) of drilling at Zgounder in Q3-2023
• Expanded 2023 drill program by 3,000m to 29,000m
• Completed 1,923m of DDH on Zgounder Regional, including 830m on Tourchkal:
• Expanded 2023 6,700m DDH program to 14,000m
• Acquired 4 Zgounder Regional permits totaling 62.6 km², boosting Zgounder total land
package to 425km²
• Doubled the 2023 DDH program at Boumadine to 76,000m with the aim of carrying out infill
drilling and extending the strike:
• Completed 52,400m of the 76,000m DDH program, extending the open-ended strike by
400m to 4.2 kilometers (“km”)
• Acquired adjacent permit
• Reviewed drill and geophysical data at Tirzzit to inform Q4-2023 fieldwork

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https://www.kitco.com/pr/3460/article_11142023220438.pdf